Vedanta's Q3 aluminium revenue up 27% to $532 million

Firm LME prices, volume ramp-up, lower input prices and cost cutting initiatives bolster earnings

London listed metals and mining conglomerate Vedanta has recorded 27 per cent growth in revenue from its aluminium operations for the quarter ended December 31, 2016. Revenue from aluminium business shot up from $418.9 million to $531.9 million as firm LME prices, volume ramp-up, lower input prices and cost cutting initiatives bolstered earnings. EBITDA (earnings before interest, taxes, amortisation and depreciation) in the quarter was significantly higher at $95 for the same reasons and also due to rupee depreciation. Aluminium prices on the LME were robust during Q3 averaging $1710 per tonne compared to $1495 a tonne in the year-ago period.